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4 Interesting Benefits of Running a Non-Profit Business – Business Ideas

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Featured image by Kelly Sikkema from Unsplash

Business runs our world. No matter what your opinions are on the matter, companies provide goods and services to make a profit. They typically take those gains and reinvest them into the company to continue to improve their bottom line. This is the most basic definition that encompasses every potential reason for a business to exist. There are still times when making money for the sake of business growth is not the sole factor for going into business. Enter the non-profit organization.

The purpose of a non-profit is to take the money gained from doing business, and put it back into the community. Non-profits address issues like child hunger or other forms of human suffering.

As the merits of non-profit organizations have continued to be expressed, industries that are typically for-profit have started to get in on non-profit business practices. Non-profit auto insurance companies are just one such example of this trend. 

We’ll cover the many non-profits that have cropped up over the years, along with the benefits of running different types of non-profits. What will we see in the future for non-profits? There’s a lot to discuss, and these are the four most prominent high points for the concept of starting non-profit organizations. 

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1. Introducing Necessities to Those in Need

This is probably the first thing you think about when you contemplate the benefits of a non-profit. Many of these organizations put their resources and funds earned toward helping those who need basic essentials. We’ve all put a few dollars in the red bucket during Christmas when the Salvation Army is standing at the door. 

What people don’t think about is how many non-profits there are that support other things than just food and water. While these are pivotal for all of us to stay alive, there are a lot of other issues non-profit organizations try to help solve through their mission statement. 

Technology

We all know how important technology is to our modern economy. However, many don’t have the opportunity to get in on the revolution. So, if this is something that bothers you, think about starting a non-profit to provide computers to poverty-ridden areas. This will allow people to engage in the technological-business sphere, like making their perfect blog idea come to life. 

Environment

Our environment and our wildlife are in grave danger right now. Human-caused climate change is destroying our planet. Moreover, it’s taking away natural habitats for animals that have lived in the same places for thousands of years. If you are passionate about helping to create cleaner energy, start a non-profit car company that sells eco-friendly vehicles. 

You can find even more non-conventional nonprofit organizations if you are interested in starting your own and want an example of success. Think of something that needs special attention. If you think you can help a section of the population with a non-profit, go for it. 

Quality of Life

If you are interested in helping people get other necessities, like car insurance, think about getting involved in non-profit insurance companies. The policyholders are the ones with the control and the power instead of the bosses upstairs. It seems obvious that something like insurance would benefit from a non-profit model, but it’s taken a while to catch on. 

Furthermore, knowing you’re doing good for the world is one of the most fulfilling things you can do in the world of business. Non-profit organizations do this with sharp ideas and clear execution. 

2. Your Business Could Be Tax Exempt

Many people get dissuaded to start their own business. Mainly because they worry about the taxes that will follow. It can get pricey to answer to the IRS every year, especially if you get into a higher tax bracket. 

Also, starting a non-profit organization is a great way to contribute to your community and get into the business world without giving back to the government. Non–profit organizations are tax exempt under the Internal Revenue Codes. 

The reason non-profit organizations are exempt is that they help do things for society that the government would normally be held responsible for. Non-profits are public-owned institutions. They don’t need to give money back to the public because their entire profits go to public services.  

Make sure you research the tax parameters of your non-profit before just assuming you will be exempt. Some types of organizations still have to pay a section of profits to the IRS in special circumstances. Try to see the factors that will contribute to this possibility and don’t ever assume anything. 

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3. Creativity Can Flourish

There are more restrictions placed on the creative boundaries of traditional for-profit companies. Everything revolves around gaining new customers, whether that is through social media advertising or traditional TV spots. 

When you run a non-profit company, the only pressure you have is to help society and the people around you. This means you can have a larger leash and more creative freedom in getting this mission completed. 

There aren’t shareholders to address. There aren’t end-of-year profit goals to reach. Employees don’t have the pressure of hitting certain benchmarks to keep their jobs. Non-profits give liberties that other businesses don’t have. So, this makes everyone pull the rope in the same direction, and produces better results in the end. 

4. Everyone Is Supportive of the Cause

The working environment of a non-profit is so much more inclusive and encouraging. Furthermore, the type people who work at these places have a passion for the projects being done and the people being helped. They agree with the objectives on the whiteboard every morning. They are there to help their neighbors and their fellow humans, not make money to survive. 

If you want to start a company where all your employees are on the same page as you are, start a non-profit. You are never going to get this quality when you start a traditional business. An enormous benefit to social-cause businesses is the selflessness at the core of the business model. 

So, all these benefits work in unison to create a special experience that helps people around the world. You can have great intentions of helping your community in for-profit businesses, too. Still, they are never going to be as pure or precise in bringing those good deeds to life as a non-profit will. 

Shawn Laib

Shawn Laib writes and researches for the auto insurance comparison site, AutoInsurance.org. He wanted to help entrepreneurs understand the potential business ideas in the non-profit world by sharing this article with us. 

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5 Business Needs Depending on Your Company – Business

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To keep your business ahead of the curve, it is critical that you look into the software and other digital solutions your business needs. These tools can make your business more productive across the board.

To help you identify your business’s needs, here are five common business needs that you can address with helpful tools. Use the examples below as general references and apply them to the specifics of your company.

1. Digital Communication Systems: To Communicate Effectively

For mobile businesses and companies that operate remotely, there may be times when the need for communicating on the go becomes crucial. Whether you need to send files or discuss business projects, integrating a digital communication system can make conversing anywhere possible. Then your office becomes a digital sphere with a communication system.

If you need to track frequent updates on projects, such as pinpoint work areas within the body shop labor guide for your car repair business, a communication platform can prevent endless back-and-forth phone calls and emails. Additionally, there are many different systems available that cater to other business goals. So look into the options you feel best match the work tools you need to keep business booming.

2. A Payroll System: To Manage Payments

To ensure you can handle all of the payment criteria associated with your business, invest in a payroll system and set up automatic payments. This will help you stay on top of deadlines.

You need to make sure you’re paying your staff and partners on time, which can be challenging to accomplish on your own. Especially if you have a massive company with many people to take care of, getting a solid payroll system can be the lifesaver your business needs in order to thrive.

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3. Inventory Management Software: To Track Materials

If you have warehouses of equipment, products, or other goods related to your business, keeping track of inventory is serious business. But getting management software involved can help you categorize your data and track materials without needing to count items or know the exact location of merchandise.

Then, with everything uploaded into a cloud-based system, you can easily insert the criteria you need and have it pulled up automatically. In short, you can work smarter, not harder, with an inventory management system in place. 

4. Productivity Timers: To Work Efficiently

Help employees boost their productivity by using productivity timers they can store on their dashboard. There are many widgets and apps that can accommodate timers for projects, including options for presetting times if you need to meet a specific goal.

You might introduce productivity timer systems like the Pomodoro Technique and have each employee integrate this widget on their computer. By breaking down tasks into 25-minute segments and 5-minute breaks, your team can stay organized and focused without compromising rest. Then you’ll see how quickly your employees can complete tasks using productivity timers for work.

5. Anonymous Workplace Surveys: To Gather Feedback

Get your business signed up to create workplace surveys that your team can complete on their own time. By getting regular feedback from your team, you can make the necessary improvements to keep them happy and productive and continue on the path to success.

You can also extend this format to customers willing to comply with customer feedback surveys. Everyone can complete the surveys anonymously from their computers, and you can receive their feedback instantly for review.

The Bottom Line

Every business needs to have a variety of tools and systems in place to keep things running smoothly. There are variations but some of the overlap is commonplace for most, if not all businesses today. So consider the ideas above for your business to address your company’s needs with practical solutions.

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Common Reasons People Seek Restitution from Their Employers – Ideas

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Featured image by Thirdman on Pexels

Workplace mistreatment is hardly uncommon in the US. In fact, many members of the workforce have come to expect it from their employers. However, the fact that this type of behavior is widespread doesn’t make it any less unacceptable. Furthermore, certain actions on the part of an employer can open them up to legal action. Below are some common reasons workers seek restitution from their employers.

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On-the-Job Injuries Can Cause Workers to Seek Restitution

It is incumbent upon every employer to provide their employees with a safe work environment. Many members of the workforce have come to expect some degree of mistreatment from their employers. But being injured on the job is not something they should have to constantly worry about.

So if any of your workers have incurred injuries as a result of an unsafe workplace and/or outright negligence on your part, don’t doubt that at least one or two of them will reach out to an attorney and try to find restitution.

The absolute least an employer can do is provide workers with safe working conditions. Rest assured that your more knowledegable employees will look for a good personal injury lawyer who can be an invaluable ally in this endeavor.

Unpaid Workers’ Compensation Is More Common Than You Might Think

If someone has been injured as a result of unsafe working conditions, it is your obligation to pay workers’ compensation claims.

Unfortunately, far too many employers find ridiculous reasons to refuse these claims. This effectively leaves injured employees high and dry. In many cases, these employers are banking on the affected parties not taking the appropriate legal action. After all, they wouldn’t skirt such an important obligation so brazenly if they didn’t think they wouldn’t be able to get away with it.

So if any of your workers has been injured on the job and you have ignored their compensation claims, they may seek restitution. They may call your bluff by reaching out to a knowledgeable attorney.

Unlawful Termination Can Lead a Former Employee to Seek Restitution

When it comes to letting employees go, many businesses are far from compassionate. As a result, fired employees often find themselves completely blindsided when their employers are looking to downsize.

If the circumstances surrounding a termination violate the employment contract or a worker’s general rights as a member of the workforce, they may have solid grounds for seeking restitution.

For example, if you fire someone for failing to meet a sales quota that you never outlined in their employment contract or even mentioned to them until the time of their firing, they can rightfully seek restitution. All they have to do is get in touch with a lawyer.

Similarly, if someone loses their job in response to a rules violation that has never before resulted in an employee losing their job, reaching out to an attorney may prove worth their while.

Sexual Harassment Is an Ongoing Problem

Harassment in the workplace is a problem that countless members of the workforce contend with on a daily basis. Furthermore, it’s a problem that comes in a variety of forms.

Most notably, there’s sexual harassment. Surprisingly, this remains as persistent as ever despite heightened awareness of the issue. Anyone who has ever been objectified, inappropriately touched, or propositioned by any of their bosses or coworkers has been the victim of sexual harassment. And there’s no reason they should not seek restitution. The responsible parties should never get away with such behavior.

Unfortunately, a staggering number of employers look the other way when it comes to this issue. Many of them actively downplay it. Others simply refuse to acknowledge it altogether. Needless to say, this is hardly ideal for sexual harassment victims. They often feel unheard and trapped in unhealthy work situations.

However, regardless of how much an employer attempts to minimize the issue, they have the right to seek restitution. Workers who are tired of finding themselves on the receiving end of inappropriate and unprofessional behavior can call on a dependable attorney for relief. 

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Conclusion

In the US, many members of the workforce have come to accept mistreatment from their employers as commonplace. And while they’re far from pleased with the way they’re treated at work, they often opt to roll with the punches instead of seeking recourse.

Although not wanting to rock the boat is perfectly understandable, there are certain types of behavior that no employee should have to tolerate. If you feel singled out by this article as an employer, commit now to improving working conditions for your employees. Otherwise, they have every right to contact a good attorney and seek restitution.

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When Are Employees Most Likely to Quit? – Running Your Business

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The Great Resignation isn’t over. Beginning in early 2021 and continuing today, millions upon millions of Americans have quit their jobs in pursuit of more satisfying work.

No organization has been untouched by this major employment trend. And now every organization is suffering from an ongoing labor shortage as countless legions of employees take their time in determining their next career steps.

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Though the Great Resignation has demonstrated that workers can and will resign whenever they feel compelled to do so, research has found that in normal times, workers tend to quit during or after one of three periods in their career.

Employees Sometimes Quit Around Their Birthdays

Different people have different reactions to their birthday. While many relish the opportunity to be the center of attention and enjoy celebrating any occasion with cake and presents, plenty of others find themselves uncomfortable with the idea of becoming another year older.

Especially as age climbs, more and more people tend to develop complicated feelings toward their birthday. The birthday becomes an annual opportunity to reflect on one’s life, including one’s past and present choices. Importantly, employees tend to consider carefully their current level of satisfaction and the status of their dreams around the time of their birthdays.

As a result, birthdays often become a crisis point for employees. This can be a time when they decide whether or not they will quit or remain in their current role.

Some birthdays more often precipitate a larger number of resignations. For example, milestone birthdays like 30, 40, 50, and 65 tend to provoke more serious reflection. These milestones generate more intense desire and and even panic regarding people’s hopes and dreams.

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So employers should put extra work into demonstrating their appreciation and connection to employees on the verge of celebrating birthdays. This isn’t to say that it is vital for organizations to host extravagant birthday parties.

Some acknowledgement of the occasion, like a decorated desk or a team lunch, can go a long way. However, it is much more important for workplaces to mark birthdays with recommitments to their workers.

Managers should schedule one-on-one meetings to discuss satisfaction with responsibilities, career ambitions, and more. Organizations might enroll employees in some kind of career development program or offer workers responsibilities they have asked for in the past. The goal is to demonstrate gratitude and support for workers while keeping them engaged through the crisis of the birthday period.

Work Anniversaries Evoke Self-Reflection

A work anniversary is the annual recognition of an employee’s first day on the job. Like a birthday, it is a rare occasion that deserves some kind of celebration.

And like a birthday, it typically involves some kind of intensive self-reflection from employees. This can lead some to decide to quit their jobs. In fact, work anniversaries tend to focus a worker’s rumination on their career. This can lead them to think about their dreams and passions and whether their current role makes them happy.

As with birthdays, business leaders need to participate in employee anniversary recognition carefully.

Usually, organizations schedule performance reviews around anniversaries. Therefore, leaders should take advantage of these opportunities to get to know employees better. Use these times to work with employees to develop career plans that are mutually beneficial. In other words, try to renew employees’ interest in their jobs and thwart any notions of quitting.

A work anniversary is an excellent occasion for offering access to an organization’s mentorship program, for example. Alternatively, provide a title change that might come with attractive responsibilities if not an increase in pay or perks.

Most importantly, managers need to listen to what individual employees want around the time of their anniversaries. This could prevent any sour feelings that might result in an employee quitting around this time.

Social Events Can Lead to Employees Deciding to Quit

Comparison is the thief of joy, as the saying goes. So when many employees are in social situations that cause them to compare themselves unfavorably with peers, they are incentivized to quit their current jobs. Nearly everyone wants to find something that provides them with more social cachet.

Events like weddings, school and family reunions, industry conferences, and more all but force workers to talk about their current roles and responsibilities. This in turn compels them to reflect on their current status and potentially consider changes they might make to gain more satisfaction from their work.

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By no means should organizations strive to restrict employees’ participation in social events as a means of curtailing the reflection and comparison that can lead to resignation. Instead, business leaders should strive to develop strong personal connections with their team members.

Then, workers are more likely to come to their leaders with concerns about their current role instead of quitting their jobs. The organization can then develop solutions that will keep the employee happy and engaged for the long term.

Conclusion

The Great Resignation rages on. But even after it ends, employers need to face the fact that certain events will spur employees to quit. By identifying the most common times for resignations, businesses can develop strategies for keeping workers happy and engaged into the future.

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5 Business Related Reasons to Obtain a Second Citizenship – Opportunity

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Featured image by Charlotte Noelle from Unsplash

Citizenship by investment programs have become increasingly popular in the past couple of years since many entrepreneurs have acquired a second passport. This passport offers many benefits, from visa-free traveling to tax optimization. While it provides more excellent opportunities, it can potentially influence your tax savings and joint ventures.

Depending on the country where you’ll decide to obtain your second citizenship, you may be eligible for various advantages for your business. Furthermore, you need to check whether the country allows for double taxation or a visa-free traveling to the particular country you’ve decided to invest in and expand your business.

The second citizenship market is expected to hit $100 billion by 2025 on a large scale.  Also, to help you learn more about these benefits in mind, we’ve put together this article which showcases the main business-related perks of having a second passport. So, let’s take a look.

1. Residence Benefits

Residence benefits guarantee you residency in the particular country you’ll apply for a passport. Furthermore, many countries offer citizenship by investment programs where you can invest and become a citizen of that specific country. So, if you get citizenship, you have every right to live in that country. No visas or travel arrangements are required!

For example, the St. Kitts citizenship by investment program offers excellent opportunities for its citizens and potential citizens. Having a dual passport enables you to travel to a foreign country for your summer vacation or in case you need to leave your country.

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2. New Business Opportunities

Obtaining second citizenship opens the door for new business opportunities. This passport can give you access to new markets where you can invest and boost your business margins. Additionally, you can invest in neighboring countries. The types of investments include:

  • Investing in real estate
  • Making a one-time donation to a National Fund
  • Investing in hotels or resorts

Although dual citizenship can be convoluted, it’s crucial that you invest in the rising market, buy cheap parcels and resell them in the future after the value has increased.

Also, if you want greater business opportunities beyond the reach of your home country, a second passport can give you the ground floor of accessing them.

Image by Barbara Maier from Unsplash

3. Outreach to Larger Markets

The rise of second passports and citizenship in the new era of business opportunities has skyrocketed. Moreover, there are programs created to suit the start-up companies and that focus on the potential of the business concept.

And over the years, the global need for start-ups and small businesses has grown proportionally. With the IT advancements and tools available in the industry, many companies decide to go digital and expand their outreach.

Business owners have access to the potential success of projects in new and fast-growing environments and sectors. So, the chances of succeeding are increased with the visa scheme that focuses on offering foreign entrepreneurs a faster process of establishing their brand.

Larger markets mean bigger profits. In the long term, your business will profit exponentially from the global network of buyers and potential customers.

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4. Freedom to Travel

Depending on the country you apply for a passport, you might be eligible to travel to more than a hundred countries, visa-free. For example, Grenada offers those with citizenship the unique opportunity to travel to over 130 countries. Some of these include Russia, China, China, and the Schengen countries.

To learn more about the traveling regulations and visa-free travel, please check national or governmental entities, or consult a law company.

5. Lifestyle Benefits

As individuals, we are always concerned about our future. And whether we are making the right choice of staying in our home country, regardless of its economic instability or scarcity of employment opportunities. Many business owners decide to improve their lifestyles and increase their profits by obtaining a second passport and transferring their business abroad.

And after all of the hard work and hustle for many years, it’s time to have time for yourself and enjoy your retirement days. What’s better than spending your late years on a beach in the Caribbean Islands where your family can visit you?

Entrepreneurs choose the benefit of giving a better life to themselves and their descendants by obtaining dual citizenship. A second passport will always open the doors for many business opportunities and lifestyle improvements.

As a citizen of a foreign country, you can get better healthcare, education, tax optimizations, better living standards, and afford things you couldn’t afford in your home country.

Learn More About the Process

To learn more about the process of becoming a citizen in another country, please check our blog. The process is usually straightforward. Moreover, it consists of an online application and filling out paperwork, making a payment, and waiting for the company in charge of your citizenship application to take care of the rest.

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How to Build a Roadmap That Leads to Your Goal – Business

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Featured image by John-Mark Smith via Pexels

The purpose of a roadmap for your business is the same as for any other roadmap: It helps you get to your destination. But instead of taking you on a road trip to the Grand Canyon, this roadmap leads you toward your objective.

And because it’s good business to start with questions, not ideas, start your trip by asking:

  1. Where am I now?
  2. Why do I want to go where I want to go?

These questions sound deceptively simple, but it’s worth taking the time to answer them thoroughly. The tips below will help you answer these questions (and more). By answering these questions everyone will be on the same page of your map.

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Let’s now jump into specific tips on how you can use a roadmap to benefit your team and your company.

“About twice as many best performers (38%) use product Roadmaps than do worst performers (19%).” – Scott J. Cooper & Robert G. Edgett (2009)

Tip #1: Start with Questions to Define Your Objective

First, continue answering questions that will help you build the structure of your roadmap (think of them as the roads, bridges, and towns along the way).

The roadmap can do many things—like keep your team informed, set your priorities, and determine necessary resources—but its utility is only as good as the information you put into it. This means asking more “who, what, where, when, and why” questions, such as:

  • Where are we now? (Where are we in our current work?)
  • And where do we want to go? (What is our objective?)
  • Why do we want to go there? (Why is this objective important?)
  • When are we going to go there? (Over what time period will we work toward our objective?)
  • Who is coming with us? (Who will work on this objective?)
  • What do we need to do to reach our destination? (What concrete steps will we take toward the goal?)

Only the best companies and leaders have clear answers to these questions.

Tip #2: Determine the Factors Your Success Depends On

To continue the theme of asking questions, consider looking at these business functions through the lens of “why, what, and how” questions. Ask why your objective relates to your business and the market in which you operate. Ask what products and services that you offer factor into the success of your objective. Also, ask how the resources you have will aid you in reaching your objective.

The point is to make sure you look at your operations in their totality. Each decision you make—each step you take toward your objective—will affect all aspects of your business. This step makes sure you don’t limit your roadmap planning to only one area of your business.

Tip #3: Identify Your Obstacles

“πρόβλημα”(Greek) Próblēma. An obstacle, barrier, or hindrance.

Next, identify and name the obstacles that will get in the way of your trip to your objective. These are the things that will slow you down (heavy traffic), send you the wrong way (confusing detours), or stop your progress entirely (running out of gas).

This can be even more important than setting your objective. The objective itself is uninformative because it’s a distant landmark you have chosen because of its perfection. But no trip is without its problems. If you plan for obstacles, you will be prepared to bypass them when they appear.

Also, keep in mind that reaching your goal may require innovative solutions and unfamiliar methods your company hasn’t used before. Don’t be afraid to be creative!

Ways to brainstorm around these obstacles include:

  1. Collect all information about your objective in one place. (Start by answering the questions in Tip #1).
  2. Engage your entire team in the brainstorming process.
  3. Integrate your company’s mission and activities into the objective.
  4. Try out several versions of the roadmap by using options such as a portfolio matrix, SWOT analysis, or drivers and key performance indicators (KPIs).

When you identify your obstacles, answer these questions about them:

  1. What information does our team/company need to solve this problem?
  2. What needs to be done to solve this problem?
  3. And what resources do we need to solve this problem?

Tip #4: Break Down Your Objective

Group your objectives on the roadmap by core business functions. Again, almost all business goals relate to market/clients, product/services, or resources.

Next, clarify who is responsible for each step of the roadmap. A successful movement toward the objective requires constant interaction of all the departments and teams. (Think of this like a caravan of RVs using the same map, but each is responsible for different parts of the trip such as gas, snacks, GPS.)

Tip #5: Visualize Your Roadmap

When your team has gathered the necessary information, visualize and share your roadmap with all stakeholders. Make sure to choose a tool that everyone can easily access and understand.

Product Roadmap (Goals by KeepSolid)

Tip #6: Revise and Update Your Roadmap Regularly

Your roadmap will require constant updating as you make your way to your destination. This is what makes a roadmap an agile tool for reaching goals. Just as real maps can take you from Miami to L.A. using different combinations of highways, a roadmap can be used to reach your objective in many different ways, too.

Roadmaps are living tools and should be reviewed and updated regularly. For example, it is good to review your roadmap at least once a month. Update the progress and status of goals and tasks (including marking them as “complete”), and add further clarifications for new ones.

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Build a Roadmap to Reach Your Goals

To summarize:

  1. Naming an objective is easy, but it’s not enough to get you there. You need a roadmap.
  2. Describe your objective as completely as possible.
  3. Answer the who, what, where, when, and why questions to take you from where you are to where you want to go.
  4. Identify, describe, and plan for the obstacles that will prevent you from reaching your objective.
  5. Break down your roadmap into smaller steps. Assign those steps to the right teams and departments.
  6. Create a visualization of your roadmap. Share it with all stakeholders.
  7. Make a plan to review and update your roadmap regularly. A roadmap is flexible, so make adjustments if needed.

And there you have it! You are now equipped with steps to create your own roadmaps. Now, where will you go?

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Ways to Scale and Grow Your Consulting Business – Business

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Featured image by Alex Green on Pexels

The competition in the world of consultancy firms has gotten fierce. Entering the market with a new consulting business might be easy, but surviving could be tough in the long run.

If continuous growth is not ensured, it can lead to utter failure and disaster. This growth needs to be in terms of market share, profit margin, geographical approach, influence, and brand position.

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Here are some ways to scale and grow your consulting business.

1. Delegate Some Tasks in Your Consulting Business

Starting a new consulting business can be overwhelming. You might want to control every possible thing associated with it. Trusting someone else to perform some functions would be a huge NO for you. However, if you do so, you end up overburdening yourself. Resultantly, nothing would go right in your new firm.

Delegating authority and letting someone else perform some functions is the first thing to do while scaling your strategy consulting services. As the organization grows, you need to ensure further scaling through sharing. If you keep doing the same things for far too long, you lose grip on a lot of other activities.

Sharing tasks with people with a certain level of expertise would help you scale your business successfully. Don’t think that it would lead to you disassociating with your firm. It won’t do so! Rather, it would give you the much-needed space to think about larger aspects of the company’s scaling.

2. Utilize Package Pricing

Now is the time to work on various projects and grow your consulting business further. Rather than relying on one massive client providing for most of your company’s payroll, you should start serving both small and big clients.

The strategy of not putting all your eggs in one basket will give you a safer route to scale up. Serving clients of different sizes would mean asking for varied prices from them. You can’t charge the same fee to the clients with additional requirements.

Devising a price strategy means asking varied customers for varied prices. This package pricing will surely help you gain more clients in the long run. Your business growth team will also advise you to scale up through varied pricing techniques.

3. Promote and Advertise

Your business will grow only when more and more customers come to ask for your consulting services. And this will happen only when they know about you. Though the satisfied customers will surely discuss how amazing they felt working with you, you need more than this to grow.

Spending some bucks on advertising and promotion will surely help your company grow. Devising the right strategy of marketing will lead to great results.

Working extensively on social media marketing will fetch you much-needed attention. People on the internet will get to know you through social media platforms and ask you for your services. As your customer base increases, you will be able to scale your business.

4. Automate Your Process

Moving toward automation helps in saving a lot of time in the future. Though you would have to work a little harder to automate your processes right now, it will save you many hours later on. You can use these spare hours for some other procedures.

Automation is possible for every process. This includes email marketing to auto-reply to scheduling meetings to following them up. Once you automate the procedures in your consulting business, you won’t need anyone to perform these actions. This will save time and resources for you in the long run.

Image from nattanan23 on Pixabay

5. Offer Clients of Your Consulting Business Exactly What They Want

The customer is the king of the market. Eventually, if he is satisfied, you will be able to get more clients, which will help you grow your business. You need to figure out what your customer wants and serve him with that.

Clients who are looking for consulting firms are mostly seeking structured services. This means that we have to offer them a proper communication channel, extensive discussion set-ups, and on-time project delivery.

Understanding the customers’ specific needs and then fulfilling their demands will help you gain a customer for life!

6. Devise Your Budget Wisely

If you are serious about growing your firm, you need to use your profits wisely. Being well aware of your costs and knowing exactly where your money is going is necessary. Only then can you pick out unrequired actions and get rid of them.

Most of the profit would be allocated to the monthly payroll. You can surely manage that with the help of automation. Think of similar ways that would let you put most of your profit back into your business.

Image from RAEng_Publications on Pixabay

Final Thoughts on Scaling Your Consulting Business

Scaling your consulting firm is surely possible. However, you need to set your priorities and make a proper plan. Manage every segment of the business, including market share, profit margin, geographical approach, influence, and brand position wisely, and you will soon achieve your goals. Sticking to your plan will surely help you grow your business efficiently.

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How to Choose the Best Social Trading Platform – Technology

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Social trading is a relatively new trend. It has created new opportunities for people to share information with each other. By using a social trading platform, you will be able to follow accounts and keep track of trades on a micro-trading level. Moreover, you will be able to find a trader whose trading approach matches your own.

When choosing the best trading platform, it is important for traders to examine the platform’s reliability and social trading possibilities. During the complete assessment, consider the following aspects:

Broker’s Size and Number of Users

Social trading platforms let you benefit from others’ trading talents. The more users there are, the more things there are to go around. Additionally, the growing variety of trading styles creates more opportunities for all network members to develop well-balanced copy trading. So when it comes to social trading, the size really matters.

When a platform involves many traders, the variety of trading styles is usually narrower. Eventually, you might see a lot of “copy trading bubbles” as many traders in the network just start copying each other. Thus, each one has less risk of going bust.

For this reason, risks of shady trade manipulations are reduced to a minimum. There are also fewer conflicts of interest and other problems people associate with online trading.

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Commission Structure for Copied Traders and Popular Investors

Every social broker decides which commission to impose on investors. This mainly refers to copied traders. For example, ZuluTrade offers a fixed commission to all its copied traders. That is, as a famous social trading broker, it gives $5 to traders whose items have been copy-traded.

Investors and traders should be familiar with different commissions provided to copied traders. This knowledge will affect the way they handle their portfolios. ZuluTrade offers a bunch of features and forex trading resources. eToro provides traders with a whole set of benefits:

  • Fixed monthly payments based on the investor’s level
  • 2% commission on the amount under management (AUM)
  • Extensive rebates reaching up to 100%
  • Monthly marketing allowances
  • Quarterly education allowances
  • Allowances intended for annual events

Compatible Brokers and Trading Platforms

ZuluTrade has been mentioned before as a solid trading facilitator. And this is true, as it connects to different forex brokers via the MT4 trading platform. Therefore, traders receive their own broker’s MT4 trading resource to trade with ZuluTrade.

At the same time, eToro has its own trading platform for trading with the others. This platform is more suitable for social trading than MT4. However, many users still prefer using an MT4 expert advisor due to its greater convenience.

Whether the Broker Allows Automated Social Trading

Some social brokers such as ZuluTrade get expert advisors involved in automated trading. This way they optimize their trading capabilities.

Both manual trading and automated trading have their own positive and negative sides. Both copied traders and copiers may express different preferences and opinions about automated trading. So they should check whether automated works or doesn’t work for their social broker.

Transparency in Social Trading

The best social trading platform has different amounts of information about each trader. Some of them give basic overviews while others get deeper into details.

A few platforms reveal a user’s entire trade-by-trade trading background. Due to regular updates, the previous data gets transformed into statistics, including charts and graphs. This way it is easier to estimate each trader’s performance.

The best platforms tend to provide statistical data to reflect each trader’s performance. All the data is based on previous results, which can easily boost traders’ operations by getting more copiers involved.

When looking for the best social trading platform, make sure to pay attention to a trader’s detailed portfolio. This is a valuable source of information you can’t afford to ignore. It shows you what tools you can use to diversify your portfolio. In this context, you can estimate the risk score. This is a crucial aspect of the social trading process. After all, you won’t get too far unless you’re using social trading platforms that have extensive features.

Learning from Other Traders by Way of Social Trading

Social trading has become a great way to learn from the success of other traders. Their knowledge and expertise can teach you how to make your own money. But you will need to choose the proper platform. It’s not as easy as it seems, considering the growing market competition. But with the above instructions, you have a better chance of making the right choice.

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The Evolution and Comeback of Experiential Marketing – Marketing

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Featured image by Zyabich

As safety restrictions ease and with consumers eager to engage, in-person activities and meetups are becoming popular again. In fact, 81% of marketers plan to host live experiences this year, according to a study done by Agency EA. So what does this mean for brands looking to reconnect with their customers? It means that experiential marketing events are set to make a big comeback.

Experiential Marketing 101

Experiential marketing strategies fully immerse consumers within a brand or product. In other words, this form of marketing prompts customers to experience the brand instead of merely pushing them to buy. For this reason, experiential marketing also called engagement marketing. Most of the time, it includes a captivating display or an engaging event.

However, experiential marketing differs from traditional event marketing, as it allows two-way interaction between the brand and its customers. And while event marketing gives all participants the same experience at once, experiential marketing offers unique, memorable experiences.

Some Examples of Experiential Strategies

Want to see it in action? Here are some recent examples of experiential marketing:

A Product-Centered Example with Netflix’s The Queen’s Ball: A Bridgerton Experience

Image Source: Netflix Bridgerton Experience
Image Source: Netflix Bridgerton Experience

Netflix transported viewers into the world of their hit TV show, Bridgerton, in The Queen’s Ball: A Bridgerton Experience. The experience includes costumed characters, scavenger hunts, period dance lessons, elaborate decorations, and more. Merchandise such as opera gloves and makeup products used in the production are also available for purchase.

With this event, Netflix brings this series to life and places viewers directly in the story. In the end, the event fosters a stronger following for the show. It boosts audience engagement and ultimately extends the life of the series.

A Brand-Focused Experience with OGX’s Love Labs

OGX Love Labs is an example of brand-focused experiential marketing.
Image Source: OGX on Event Marketer

OGX’s Love Labs offered guests a memorable shower photo op, snacks highlighting the brand’s ingredients, and a hands-on science demo.

These experiences showcased the science and ingredients behind their brand. Basically, the company showed off their leadership in hair care. At the same time, they promoted one of the brand’s major values, self-love, by presenting participants with moments to celebrate their hair.

At first glance, this might seem like a product-led strategy. However, OGX focused on displaying their ongoing commitment to quality ingredients and the celebration of self-love. They held up the brand’s identity rather than focusing on one product or collection.

A Little Mix of Both with Häagen-Daz’s Bodega Speakeasy

Image Source: Häagen-Dazs Twitter

Häagen-Dazs transformed an empty shop into a colorful, classic New York City bodega to pay tribute to the brand’s roots and highlight their new “City Sweets” collection. Hidden within the entire space were Easter eggs and varied nods to Häagen-Dazs’s original creators. This was evident even in the bodega’s name, Rose and Reuben’s.

Every aisle was dedicated to one of the brand’s new flavors. For example, one aisle featured Häagen-Dazs’s new churro-inspired Dulce de Leche ice cream. To top it off, behind a freezer door was a speakeasy where the air was filled with live music and visitors could sample new flavors.

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Why Experiential Marketing Is Critical

Experiential marketing helps businesses establish a deeper, more lasting relationship between the brand and its customers. Since this strategy delivers one-on-one engagement, consumers feel connected rather than pressured to buy. This helps create a lasting impact, encouraging brand loyalty. In short, it increases customer lifetime value (CLV).

Here’s a quick snapshot of all the benefits that experiential marketing has to offer. It will help you:

  • Humanize your brand
  • Differentiate your business from your competitors
  • Build brand and product awareness
  • Develop deeper customer relationships
  • Increase sales
  • Generate valuable leads
  • Collect vital customer data in real time

The Ebb and Flow of Experiential Marketing

Before March 2020, experiential marketing was seeing significant growth in popularity. In fact, over a third of CMOs expected to spend up to 50% of their budget on experiential marketing campaigns, according to a survey conducted by Freeman in 2017.

Additionally, based on Bizzabo’s 2018 event marketing study, 80% of businesses believed live events and experiences were going to be an important component of their success.

Then, quarantine happened.

This had a devastating effect on experiential marketing. The pandemic prevented in-person marketing experiences. As a result, many businesses were forced to cancel their events altogether. Others pivoted toward virtual or socially distant experiences such as drive-in or drive-by events. Basically, businesses were trying to ensure people’s safety.

But now, the world is gradually finding its way toward a new normal, and safety restrictions are beginning to fade. However, some strategies marketers were forced to accept during the lockdown may well continue indefinitely.

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What Experiential Marketing Could Look Like over the Next Couple of Years

Nonetheless, safety measures are slowly lifting. Moreover, people are eager to attend in-person events. Therefore, experiential marketing is set to make a big comeback, even though the past couple of years have no doubt changed the way businesses approach experiential campaigns.

So what do you need to keep in mind when you’re planning experiential events?

Virtual Technology in Experiential Marketing

Even though many online-only events will dwindle with Zoom fatigue setting in, virtual technology will still play an important role in experiential marketing.

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Integrating technologies such as augmented reality (AR), virtual reality (VR), and video into an experiential campaign will allow your brand to reach a wider audience.

So, for example, if your pop-up experience is in LA, one or more of these technologies will enable prospects in different cities and countries to join the experience. This could even increase your international sales.

Smaller Attendee Groups and Outdoor Community Events

Safety is still a priority for businesses and consumers alike. Therefore, smaller, more intimate attendee groups are likely to be popular.

This is not such a bad thing, however. Companies can benefit from a smaller group setting, as they can address guests directly. In this way, they will be able to build deeper relationships.

In short, consumers will connect with your brand on a personal level when they attend one of your small in-person events. This can lead to longer-lasting brand loyalty.

Greater Consumer Interest in Advocacy and Transparency

More and more consumers, especially Millennials and Gen Zers, are looking for brands that genuinely advocate for the causes the company claims to care about. In other words, they want their purchases to reflect a commitment to generate social good.

Moreover, they want to know how the company supports these causes. Transparency is a primary concern.

With sincere advocacies and meaningful brand values, you develop a positive business reputation as consumers learn to associate your brand with important causes.

More Hands-on Experiences

After many contactless and touch-free activities, we’re ready to get our hands out there!

This means interactive experiences that invoke the sense of touch. Think demos, games, samples, and so on. These types of events will grow in popularity, as they tend to leave lasting impressions on consumers.

Setting Your Business up for Success

Consumers’ growing desire to get out of the house and experience life makes experiential marketing an obvious choice for businesses in the next few years. Just by organizing a personalized, memorable experience for your customers, you show them how much you value them.

To ensure your business’s success with experiential marketing, here’s a snapshot of best practices for engagement marketing:

  • Use experiences to highlight your brand’s values
  • Appeal to your audience’s senses and emotions
  • Create something visually striking
  • Organize hybrid events by combining virtual and real-life experiences
  • Collect vital customer insights during or after the event
  • Incorporate hands-on and interactive elements
  • Research your environment before creating any physical exhibits
  • Stay relevant and true to your brand’s identity

With these practices in mind, you can start crafting successful, engaging experiences that maximize your customers’ lifetime value to your business.

About the Author

Kim Sayers has been a content creator for more than four years. She writes for small businesses, specifically focusing on marketing, sales, and communication.

She currently works with telecom experts to gain insights into how businesses can use communication tools to effectively run their businesses. Find Kim online at LinkedIn.

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5 Steps for Finding a New Job – Running Your Business

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Featured image by fizkes

Despite the fact that this is candidate-driven market, some employers find it necessary to reorganize their businesses. If you find yourself in this position and need to lay some workers off, share the article below with them as a way to help them with finding a new job.

There has never been a better time to look for your dream job. However, the process of job hunting can be both challenging and time-consuming. Follow these five steps to streamline your job search and increase your chances of landing your ideal position.

1. Assess Your Skills and Interests

As you embark on your job search, it is important to take stock of your skills and interests. For example, what are you good at? What do you enjoy doing? Taking the time to reflect on your strengths and weaknesses will help you to identify the types of jobs that are a good fit for you.

For instance, if you have strong written communication skills, you may want to consider jobs that involve writing or editing. But if you enjoy working with numbers, then roles in finance or accounting may be a good match. And if you have a passion for helping others, then finding a new job in customer service or social work could be a good option.

When reconsidering your interests and abilities, also think about what you like and don’t like in your current role. Consider these factors:

  • Work-life balance
  • Company culture
  • Commute vs. working from home
  • Benefits and compensation
  • Responsibilities and leadership opportunities

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2. Research the Job Market

Researching the job market will help you to better understand the current state of the economy and the types of jobs that are in demand. Additionally, researching the job market will give you a better idea of what salary range you can expect to receive when finding a new job. There are a number of ways to research the job market, including online job boards, government websites, and economic reports.

3. Network with Friends, Family, and Colleagues for Help with Finding a New Job

According to CNBC, 70% of jobs are never published publicly. Top companies in Charlotte, Los Angeles, and other major cities are hiring, but the jobs are rarely advertised. Therefore, with the vast majority of jobs being filled through connections, it’s essential to cultivate a wide network of friends, family, and colleagues.

So always be sure to exchange contact information with anyone you meet. Whether you’re at a professional conference or simply grabbing coffee with a friend, make sure you have a way to stay in touch. You never know who can best help you with finding that new job.

When networking, be an active listener. Not only will this help you build a stronger connection, but it also shows that you’re truly interested in what they have to say. This makes the other person feel valued.

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Here are some active listening tips:

  • Make eye contact
  • Paraphrase what the other person is saying
  • Ask engaging questions
  • Avoid interrupting
  • Be patient and allow for silences

Don’t be afraid to reach out. If there’s someone you’d like to connect with but don’t know how, send them an email or connect with them on LinkedIn.

Most of the time, individual members of your network aren’t going to be able to help you directly with finding a new job. But by building a strong network of contacts, you will increase your chances of hearing about job openings that are a good match for your skills and interests.

Image from Pixabay

4. Polish Your Resume and Cover Letter

Your resume and cover letter are often the first impressions you make on a potential employer. It is important to take the time to ensure that these documents are polished and professional.

Start by proofreading for any spelling or grammatical errors, and then take a look at the overall layout and design. Is your contact information easy to find? Is the font easy to read? Did you inadvertently leave unnecessary clutter in the document? If you find any of these blunders, make the necessary changes. Having an impeccable resume with increase your chances of finding a great new job.

In fact, if you are serious about your job hunt, hiring a professional resume writer on Upwork or Fiverr might be a good investment. Native English-speaking resume writers typically charge between $100 to $200, but the cost is worth it if it helps you land your dream job.

Finally, make sure to tailor your resume and cover letter to each specific job you apply for. Especially since most companies use an automated system to parse resumes, you must use keywords that match the job description.

Use the company’s name and specify why you are a good match for the role in question. Then, highlight the relevant skills and experience you have. Pay attention to the job description, and be sure to address the required qualifications.

5. Prepare for Interviews

Researching the company you are interviewing with is one of the most important things you can do to prepare for an interview. This is so important for finding a new job.

When you know more about the company, you will be able to ask better questions and show that you are genuinely interested in working for them. You can research the following:

  • The company’s history
  • The products or services they offer
  • Their competitors
  • Their financial information
  • The culture of the company

Keep in mind that you are interviewing them just as much as they are interviewing you. Come to your interview prepared with both knowledge and insightful questions regarding these topics. Examples of questions you could ask include:

  • What inspired the company’s founding?
  • Do you see any challenges when competing against other companies?
  • What is your team’s biggest challenge?

If you are interviewing for a startup, other questions to make sure you ask include:

  • What is the company’s burn rate?
  • What is the company’s runway?
  • Is your employee turnover rate in the normal range? What is it?

You may feel as though these questions are intrusive, but a great hiring manager will appreciate your curiosity and be more than happy to answer your questions.Practicing your answers to common interview questions is a must. While you can’t predict everything you will be asked, there are some questions that come up time and again. These include:

  • Tell me about yourself
  • What are your strengths?
  • What are your weaknesses?
  • Why do you want this job?
  • Where do you see yourself in five years?

Rehearse your answers to these questions out loud, and if possible, in front of a mirror or even a friend. The more you practice, the more confident you will feel going into your interview.

Follow These Steps for Finding a New Job

By following these five steps, you will be well on your way to landing your dream job. Moreover, with a little bit of practice and dedication, you will be able to find your dream role in no time.

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